Question: 2)Given the typical inherent and fraud risks for equity, the auditor would expect an organization to have implemented all but which of the following controls

2)Given the typical inherent and fraud risks for equity, the auditor would expect an organization to have implemented all but which of the following controls related to Equity

Stockholders equity accounts are updated and reconciled to the general ledger on a timely basis

The board of directors approves all stock transactions (including options and warrants)

The organizations accountant researches and analyzes proper accounting for stock option grants, and the organizations legal counsel and CFO review and approve the analysis

The board of directors approves all new debt

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